Terms & Conditions

IMF-SYNERGY – Terms & Conditions

1. Introduction

These Terms & Conditions (“T&C”) govern the operations, deposits, and lending services offered by IMF-SYNERGY, a registered Microfinance (Non-Banking Finance Company) (“Company”). By availing deposit or loan services, the customer/member (“Customer”) agrees to comply with the following terms.

2. Deposits

1. Recurring Deposit (RD) Scheme

Customers may open recurring deposits by contributing fixed amounts at regular intervals (daily/weekly/monthly).

The minimum and maximum contribution amounts shall be as per Company policy.

The deposit will carry simple interest at a rate notified by the Company from time to time.

Premature closure of deposits may attract a penalty or reduced interest as per Company rules.

Deposit maturity amount (principal + accrued interest) shall be payable on completion of the agreed term.

2. Passbook / Receipt

Every depositor shall be issued a passbook/receipt as proof of their deposit.

Customers must ensure safe custody of these documents; loss should be immediately reported.

3. Loans

1. Eligibility

Loans shall be offered to:

Small traders for business purposes.

Registered women self-help groups (SHGs).

General public for personal/household needs.

Loan eligibility shall be determined on the basis of deposit records, repayment capacity, and company’s internal credit assessment.

2. Loan Amount & Security

Loan amount shall be linked to recurring deposit maturity or other eligibility criteria fixed by the Company.

Security, guarantee, or group liability may be required as per loan category.

3. Interest & Repayment

Loans shall carry interest rates as notified by the Company from time to time, within RBI/NBFC-MFI guidelines.

Repayment shall be made i daily/weekly/monthly installments as agreed in the loan agreement.

Delay in repayment will attract penal charges.

4. Default

In case of default, the Company reserves the right to:

Adjust outstanding loan against deposit balances.

Recover dues through legal proceedings.

Report defaulters to concerned authorities/credit bureaus as per law.

4. General Terms

1. Membership / KYC

All customers must complete KYC formalities (ID proof, address proof, photo) as per RBI/Company guidelines.

False or misleading information will lead to cancellation of membership and forfeiture of benefits.

2. Confidentiality

Customer data will be maintained confidentially and shared only with regulatory bodies as required by law.

3. Rights of the Company

The Company reserves the right to amend interest rates, schemes, and policies without prior notice, subject to regulatory compliance.

Acceptance or rejection of deposit/loan applications lies solely with the Company.

4. Customer Responsibility

Customers must provide accurate information and comply with repayment schedules.

Misuse of loans for unlawful activities will result in immediate cancellation and legal action.

5. Dispute Resolution

Any dispute shall be resolved amicably through mutual discussion.

Failing which, disputes shall be subject to the jurisdiction of the local courts where the Company operates.

5. Disclaimer

Deposits and loans are subject to the policies of IMF-SYNERGY and prevailing regulations for Microfinance Institutions (NBFC-MFI).

The Company shall not be liable for losses arising from factors beyond its control (natural calamities, regulatory changes, etc.).